气候变化领域集成服务门户(CCPortal): From green to amber: is Australia?s National Electricity Market signalling a financial warning for wind and solar power?

CCPortal

DOI	10.1016/j.enpol.2022.113052
	From green to amber: is Australia?s National Electricity Market signalling a financial warning for wind and solar power?
	Srianandarajah, Nesanthan; Wilson, Stephen J.; Chapman, Archie C.
发表日期	2022
ISSN	0301-4215
EISSN	1873-6777
卷号	167 页码:13
英文摘要	This paper examines the challenge of mobilising capital for renewable energy projects in Australia's National Electricity Market (NEM). Analysis of multi-year time series data by generation unit from the NEM identifies four factors that have reduced financial returns to existing variable renewable energy projects (VRE) and are adversely affecting the bankability of new projects. NEM curtailment of utility-scale solar PV grew to 4.7% in 2019/20 and 4.4% for wind power; with the number of VRE generators experiencing curtailment above 5% quadrupled from 7 to 29 from 2018/19 to 2019/20. Deteriorating marginal loss factors, with the number of generators assigned a MLF of 0.9 or lower tripling from 10 to 30, between 2017/18 to 2018/19, steadily increasing. Wholesale spot market price risk has increased markedly. Renewable Energy Certificates are in the ten-year plateau period to the legislated sunset of the federal Renewable Energy Target in 2030. The depressing effect of these factors is illustrated through financial analysis of an exemplar solar project. These findings have implications for goals for high to very high shares of wind and solar deployment in Australia and elsewhere; for investment risk, project financing structures, bankability of new generation; and market design, and regulation.
英文关键词	Australian national electricity market; Renewable energy investment; Marginal loss factor; Curtailment; Bankability
学科领域	Economics; Energy & Fuels; Environmental Sciences; Environmental Studies
语种	英语
WOS研究方向	Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
WOS记录号	WOS:000814754900002
来源期刊	ENERGY POLICY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/272063
作者单位	University of Queensland; University of Queensland; University of Queensland
推荐引用方式 GB/T 7714	Srianandarajah, Nesanthan,Wilson, Stephen J.,Chapman, Archie C.. From green to amber: is Australia?s National Electricity Market signalling a financial warning for wind and solar power?[J],2022,167:13.
APA	Srianandarajah, Nesanthan,Wilson, Stephen J.,&Chapman, Archie C..(2022).From green to amber: is Australia?s National Electricity Market signalling a financial warning for wind and solar power?.ENERGY POLICY,167,13.
MLA	Srianandarajah, Nesanthan,et al."From green to amber: is Australia?s National Electricity Market signalling a financial warning for wind and solar power?".ENERGY POLICY 167(2022):13.